Real Estate Market Got you Down?

Author: Doug Rubin

| Posted: 24-02-2008 | Comments: 0 | Views: 3 | Rating: (52)

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If you answered, “that’s me,” then you are not alone. There are literally tens of thousands of loan officers and real estate agents who are in your situation. I am personally right with you. In fact, over the last few months, I went from generating $20, 000 to $30, 0000 in gross fees every month to having that cut in half. Worse yet, it is taking twice the amount of work to get those results! Sound familiar? I am not going to go into the challenges we are all facing as loan officers and real estate agents. We all know what is going on. The bottom line is this; it is much more difficult to write loans and sell homes today than it was just 1 year ago.

So what to do? Well, you could stick with it and try to outlast the market. You could change directions altogether and find a new profession. Or, perhaps you can look at the real estate meltdown as an opportunity. I can almost see your mind thinking, “what in the world is this guy talking about?”

I am not going to sit here and beat around the bush. So here’s the deal. I am definitely a glass half full type of person. I would argue that most people who enter a commission only career are that way or else they would have chosen professions that come with a guaranteed salary. So, while many may look at the real estate meltdown as the end of the line, many have made the decision to look at it as an opportunity to begin something big. Let’s face it, as commission only mortgage or real estate pros, you have been running your own business anyhow. I believe that is the reason many are starting up home based businesses.

When choosing to make the change to a home-based career, there are a number of areas that are directly affected. These include family, income, time and freedom.

Families are the reason we go to work everyday. It is our duty to provide for our families. You will want to talk it over with your family about your home business so that you have their support and understanding. The last thing you want to do is start something without the support of your family.

Makes sure you plan a budget for home and business. Usually, there is a start up period before the money starts coming in, so savings should be set aside to care for your household needs for at least of three months. You should plan on the costs of operating your own business. Will you need to build a website? And what about advertising?

You will free up more time by pursuing a home business. Just make sure that you balance your personal and business time in order to achieve that. Working too much will result in less family time, while spending all your time with your family will lead to less focus on business needs.

With these things in mind, spend time to plan, communicate and research before making the jump into a home business. It could be the difference between your success and failure.

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Article Tags: Entrepreneur, Real Estate, Mortgage, Business, Internet Marketing, Home Business, Subprime, Market, Make Money From Home, Recession, Meltdown

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About the Author:

Doug Rubin is committed to making a positive difference in the lives of entrepreneurs and their families by providing guidance and mentorship in the starting and building of a small home business and helping determined, ethical and accountable people achieve their personal and professional goals. Visit www.your1mealticket.com to learn more.

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